Portland Real Estate Market News

Portland Real Estate Market

Our local Portland real estate market is always changing. It takes a very busy real estate agent, top 1% in Portland, to keep a finger on its pulse. We write Portland housing market forecasts twice a year, an annual best month of the year to sell or buy a home article, population growth articles, Portland development articles, articles on real estate market trends, housing affordability, articles on Realtors themselves, and much more. Enjoy!

Portland Short Sale Timeline

Portland Short Sale Timeline – Important News

April 20, 2012

Beginning June 15th of this year, all Portland short sales backed by Fannie Mae and Freddie Mac should expect to receive a bank response to any offers that come in within 30-60 days. A big push is happening at the government level to make short sales work. The FHFA, Federal Housing Finance Agency, has said that short sales are an effective alternative to foreclosures and short sales help to maintain stable communities. This push to increase the speed of short sales in Portland and across the nation will address the number one complaint of buyers in the Portland real estate market, it takes too long. The average time to close a Portland short sale transaction at the time of this...


portland home prices rising

Going Up: New Apartments, Portland Home Prices

March 20, 2012

The average price of a home in Portland is up and the total number of residential properties on the market remains low, according to the most recent Market Action Report from the Regional Multiple Listing Service. Good news for sellers, but with the city’s population climbing at a steady rate, where is the needed housing to come from? Enter the apartment developers. In 2012, 21 new apartment projects will open around the Portland area, according to a recent report in the Portland Business Journal. Those projects will alleviate the tight the rental market in the city, which saw vacancy rates fall from 5.6 percent in 2009 to 3.6 percent last year. Many of these new apartment buildings are selling out...


portland market statistics

What sells in PDX: Short Sales, REOs, or Traditional Home Sales?

January 20, 2012

2011 Portland MLS market statistics. Foreclosures in Portland: In rough terms, nearly 100% of foreclosure properties in Portland, also known as REOs, sell in a 6 month period. If you are looking to buy or make an offer on a Portland foreclosure, know this: it won’t stick around for long. Banks do not take low ball offers, in general they sell the property site unseen. I have found banks will typically lower the sales price in Portland by 3% every 60 days or so. This means that they will eventually bring the foreclosure to a price that demands the market’s attention and gets the home sold in short order. It is common for a Portland foreclosure to sit for a...